How to use Support and Resistance Effectively - page 88

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ramzam
88
ramzam  
poster:

Fibonacci vector indicator

ATTENTION: Video should be reuploaded
fibo-vector.ex4

can it possible to share its mq4 file please
DurBoy
13
DurBoy  
Some good support / resistance indicators. I've tried a few out but I do prefer to draw these myself in general. I do use other indicators but for S+R I do it manually.
Sergey Golubev
Moderator
107241
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2016.08.12 19:08

If you are the coder so you can look at this indicator (inside the code) related to the market condition -

AbsoluteStrengthMarket - indicator for MetaTrader 5


This indicator with a sufficient accuracy allows defining 6 market states, exactly:

  • Bull market (Bull Market).
  • Bear market (Bear Market).
  • Correction (Correction) in a bull market.
  • Correction in a bear market (Bear Market Rally).
  • Choppy market (Choppy Market).
  • Flat market (Sideways Market).

By the way, AbsoluteStrength indicator (on the way I described it on the posts above) is used as a filter for some martingale EAs ... and there is some term (terminology) related to it - Control Martingale, means - trading in predefined market condition only. For example, trading correction/rally only, trading ranging only, trading on the flat only (for martingale scalpers), trading bullish/bearish trend only (trend following EAs), and so on.


Sergey Golubev
Moderator
107241
Sergey Golubev  

This is very interesting EA; it can be useful for the people who are trading s/r levels - 

----------------

Breakdown catcher - expert for MetaTrader 5  

The EA works with pending Buy stop and Sell stop orders.

Buy stop is set at the high price of bar # 1 + " Indent ", Sell stop is set at the price of low bar # 1 - " Indent ".

The test of this EA was done on EUR/USD M1 timeframe (as an example).

Sergey Golubev
Moderator
107241
Sergey Golubev  

Highest high & lowest low support resistance - indicator for MetaTrader 5 

Highest high & lowest low support resistance

It is combining two highest high & lowest low calculations. The "slow" channel formed that way is treated as the "trend" determining channel. The "fast" channel is is the short term channel drawn within the "main" longer term channel. That way you have a combination of fast and slow estimations of SR and short term trends within the current trend. Of course, the estimation of the trend is based on highest high & lowest low, and even though it does not repaint, it is to be used as any normal trend based on such values. 

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